GENTHERM INCORPORATED (NASDAQ:THRM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

GENTHERM INCORPORATED (NASDAQ:THRM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 7, 2018, Gentherm Incorporated (the “Company”) and Phillip Eyler, President and Chief Executive Officer of the Company (“Eyler”), executed an Amendment to Employment Terms (the “Eyler Amendment”) to amend the Offer of Employment entered into by and between the Company and Eyler on September 18, 2017 (the “Employment Contract”).The Amendment eliminates the Company’s obligation to provide Eyler with a tax gross-up payment in connection with a Change in Control (as defined in the Employment Contract) or otherwise.

A copy of the Eyler Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.The above description of the material terms of the Eyler Amendment is qualified in its entirety by reference to such exhibit.

Item 9.01

Financial Statements and Exhibits.


GENTHERM Inc Exhibit
EX-10.1 2 thrm-ex101_6.htm EX-10.1 thrm-ex101_6.htm EXHIBIT 10.1 AMENDMENT TO EMPLOYMENT TERMS This AMENDMENT TO EMPLOYMENT TERMS (this “Amendment”) is made and entered into as of December 7,…
To view the full exhibit click here

About GENTHERM INCORPORATED (NASDAQ:THRM)

Gentherm Incorporated (Gentherm) is a global technology company, which is engaged in the design, development, and manufacturing of innovative thermal management technologies and automotive cable systems. The Company has two segments: Automotive and Industrial. The Automotive segment comprises Gentherm’s three geographic operating segments: North America, Europe and Asia. The Industrial segment represents the combined results from its remote power generation systems business for industrial applications and its advanced research and product development division, which is researching and developing products for a range of different markets. Its products include Climate Control Seats (CCSs), Heated Seats, Battery Thermal Management (BTM) solutions, remote electric power generation systems, heated and cooled cup holder, thermal storage bin, Heated Steering Wheel, Heated Door and Armrest, and Heated and Cooled Mattress.

An ad to help with our costs